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Snap Inc.

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SNAP trade ideas

SNAP to continue sellingSNAP may have hype on it's side for it's participation in the Metaverse, but SNAP earnings reveal a darker story. Negative earnings have been a key factor in this stocks recent declines. With no net gains in income, investors are bailing out until they see a light at the end of the tunnel. I recently deleted my Snapchat account due to Instagram's new TikTok add-on , so I have a little bit of a bias on the short comings of this stock. However, being bias, I would like to think I am backing this belief with at least some foundational analysis. SNAP has a gap to fill and I like to believe most gaps presenting themselves on the daily chart will eventually get filled. That being said, I have SNAP falling to 39 first which would bring the stock down to 1.618 fib retracement level, then to fill the gap further falling to 29 which is the 2.618 fib retracement level, before any BUY consideration will be made. Not financial advice Happy trading
NYSE:SNAPShort
by FiboTrader1
SNAP Broadening Formation Breakout Weekly Options PlayDescription Snap has been working this pattern since DEC20, making its ATH in September of 21' and appears to have broken the lower accumulation line. The trigger for the short position is @ 50 on the weekly time frame, but 49 on the daily time frame, so the position here is a starter. Following a back test or definitive continuation, I will be adding to the position or stopping out at 50. Refer to this chart for the longer time frame: Technical Indicators: Break of lower accumulation line Converging 50/200D EMA Good volume on the breakout Using Long Puts Long Put Levels on Chart SL is a daily close > 50. An intermediate price target is at 44, then 35, and longer term is set at 17.5. For an intermediate target, we will be going with 44. *Stops based off underlying stock price, not mark to market loss The Trade BUY 12/23 45P R/R & Break-evens vary on fill. Manage Risk Only invest what you are willing to lose
NYSE:SNAPShort
by BarnardR
5
SNAP breakout and short potential SNAP appears to have been in a correction cycle following the mid November drop from 57 to 47, which is part of a much longer term correction cycle from the ATH of $83. Looking back at the entire price action, it is very clear that the SNAP run-up was due to a very well-defined Elliot wave cycle (if only they could all be this beautiful): This wave count is confirmed by the Recognia algorithm, which predicted a wave A bottom around $41: "Recognia has detected that Snap Inc (SNAP on NYSE) has entered Wave A of its Elliott Wave cycle. This bearish signal indicates that the price may fall from the previous close of 55.14 to the next Elliott Wave target price of 41.12." In the main chart you can see that SNAP has been looking for this bottom and moving through a head and shoulders reversal pattern. On the 30m chart this HS reversal breakout has as neckline right at the 51.40 resistance. However, on the lower 5m timeframe the the price action seems to be losing momentum after a rejection off the 30m resistance. This can be seen by the 5m head and shoulders top formation with a neckline coinciding with a 1Hr support: This pattern could signify the beginning of the Wave B correction cycle which could see a price increase to as much as $71 depending on the overall state of the market: Short term options trades: A failure to hold the 1hr support and subsequent fall below the 50Ma would trigger a short entry, while a close above the 30m resistance would trigger a long entry. As I wrote this the price action also formed a bearish shooting star, which could signify the bearish sentiment may win out. Long Term options/stock trade: long term DTE bullish strap option strategy paired with 25 shares with exit points at $56, $61 and $71
NYSE:SNAP
by kodyshepherdpersonal
SNAP Short Swing TradeYesterday an alert I set on a pending SNAP triggered signifying what I thought would be the top of the breakout. I took an initial 12/17 50 put entry off of strong bearish divergence when what I thought was wave B hit a resistance and then doubled the position when the Pa fell below the head and should neckline. Closed position today for $300 profit, but I'm not sure the downward movement is complete. After my piss poor trade management with AMD yesterday though, I'm looking to do better with profit and loss management. So, ill be looking to re-enter later today.
NYSE:SNAPShort
by kodyshepherdpersonal